$200m worth of projects on hold
27 MAY 2008 - www.fijilive.com
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Fiji’s capital Suva would have been a hive of construction activity now if three proposed projects with a total value of around $200 million had been given the green light to go ahead.
On hold are the proposed multi million dollar Suva Market (projected to cost around $30m), the upgrading of the Grand Pacific Hotel (projected at $42m) by the Fiji National Provident Fund (FNPF); and the proposed high class apartment block, conference centre behind the Bowling Club also by the FNPF, a project believed to cost over $100m.
These major projects were put on hold after the December 5, 2006 coup by the military government after the takeover of the Qarase government.
Even if the proposals get the thumbs up now, it would likely take a year and a half for them to get off the ground, Suva City Council director engineering services Jagdish Singh said.
According to him, there were a lot of developments happening prior to the December 5 coup in 2006 but developments slowed after the political upheaval. “People are not willing to invest.”
May 27, 2008
More people withdraw pension fund
More people withdraw pension fund
26 MAY 2008
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The Fiji National Provident Fund (FNPF) has recorded an increase in the number of members wanting to take their superannuation abroad.
The FNPF received 2581 applications from January to December last year, compared to 2433 the previous year.
FNPF chief executive officer Aisake Taito said in 2006, 2070 applications were received from locals and 363 from expatriates.
Of these, only 2265 applications were approved with a monetary value of $38.9 million.
In 2007, Taito said the Fund received 2581 applications; 2201 from locals and 380 from expatriates.
He said only 2402 applications, worth $39.9 million, were approved.
From January to April this year the Fund has received 739 applications from locals and 102 from expatriates.
Taito said the Fund has approved and processed 741 of these applications worth $12.7 million.
When asked if the overthrow of the Qarase Government in December 2006 had an impact on the increasing number of applications, Taito said: “Migration is a personal choice made by individual members. The FNPF only facilitates members request to withdraw for resettlement overseas”.
He added: “The Fund continues to register new members and that there was an increase of 3.75 per cent in membership for the financial year 2007”.
Taito said this translated to about 12,000 new members for the Fund comprising both those entering the labour market as employees and those registering as voluntary members.
Fuel price to increase
26 MAY 2008
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The local price of fuel will increase from today, the Price and Incomes Board has announced.
The wholesale and retail prices of motor spirit, pre-mix outboard fuel, kerosene and diesel will all increase.
This is due to the significant reduction in OPEC crude oil supply due to field maintenance in oil producing countries and tight demand for distillates together with the continued weakening of the US Dollar, a statement from the PIB said.
As of tomorrow, the new retail price of kerosene per litre will be $1.67 (up 13 cents), diesel/litre will be $1.95 (up 13 cents), premix outboard fuel/litre will be $2.12 (up 3 cents).
26 MAY 2008
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The Fiji National Provident Fund (FNPF) has recorded an increase in the number of members wanting to take their superannuation abroad.
The FNPF received 2581 applications from January to December last year, compared to 2433 the previous year.
FNPF chief executive officer Aisake Taito said in 2006, 2070 applications were received from locals and 363 from expatriates.
Of these, only 2265 applications were approved with a monetary value of $38.9 million.
In 2007, Taito said the Fund received 2581 applications; 2201 from locals and 380 from expatriates.
He said only 2402 applications, worth $39.9 million, were approved.
From January to April this year the Fund has received 739 applications from locals and 102 from expatriates.
Taito said the Fund has approved and processed 741 of these applications worth $12.7 million.
When asked if the overthrow of the Qarase Government in December 2006 had an impact on the increasing number of applications, Taito said: “Migration is a personal choice made by individual members. The FNPF only facilitates members request to withdraw for resettlement overseas”.
He added: “The Fund continues to register new members and that there was an increase of 3.75 per cent in membership for the financial year 2007”.
Taito said this translated to about 12,000 new members for the Fund comprising both those entering the labour market as employees and those registering as voluntary members.
Fuel price to increase
26 MAY 2008
--------------------------------------------------------------------------------
The local price of fuel will increase from today, the Price and Incomes Board has announced.
The wholesale and retail prices of motor spirit, pre-mix outboard fuel, kerosene and diesel will all increase.
This is due to the significant reduction in OPEC crude oil supply due to field maintenance in oil producing countries and tight demand for distillates together with the continued weakening of the US Dollar, a statement from the PIB said.
As of tomorrow, the new retail price of kerosene per litre will be $1.67 (up 13 cents), diesel/litre will be $1.95 (up 13 cents), premix outboard fuel/litre will be $2.12 (up 3 cents).
Garment customers threaten to pull out
Garment customers threaten to pull out
27 MAY 2008 - www.fijilive.com
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Efforts by a garment factory in Fiji to increase the prices of its garments have been resisted by its customers.
Mark One Apparel boss, Mark Halabe, said their customers had resisted any intention to increase garment prices by threatening to pull out of Fiji.
Halabe says their competition is from China where the currency used for exports is the $US dollar.
“Over the last two years the $US dollar/$AUDI has been in the favour of Australia of at least 30%. While in 2010 Fiji's trading preferences into Australia will decline by 7.5%,” he explained.
Halabe said their customers saw Fiji as an expensive manufacturing country and with any increased cost of doing business, such as the Employment Relations Bill, was of no help.
“It doesn't help our ability to increase export sales, increase employment or investments,” says Halabe.
Halabe said with the introduction of the ER Bill, his company stood to lose $160,000 each year for the maternity clause, doubling of sick leave pay, redundancy and bereavement clause.
“On a payroll of over $2.5m this is not an insignificant amount of 6.4%. In addition employers have had to pay increases in wages and salaries which would be in the same order over the last 12 months. So increases of near 13% are simply unaffordable to our international customers,” he said.
Halabe has called on the government of the day to offer business owners some relief by means of a 150% tax deduction.
Another option it has suggested in which the interim government can assist is for to offer to pay 50% of maternity pay or allow the employee to fund 50% from their FNPF funds.
Halabe says the ER Bill has other costs that the media has not picked up on including the doubling of the allowable sick days, redundancy pay and the softening of the definition of bereavement pay.
“All these additional costs only hinder Fiji's ability to compete in the international market as there was no productivity offsets,” he said.
27 MAY 2008 - www.fijilive.com
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Efforts by a garment factory in Fiji to increase the prices of its garments have been resisted by its customers.
Mark One Apparel boss, Mark Halabe, said their customers had resisted any intention to increase garment prices by threatening to pull out of Fiji.
Halabe says their competition is from China where the currency used for exports is the $US dollar.
“Over the last two years the $US dollar/$AUDI has been in the favour of Australia of at least 30%. While in 2010 Fiji's trading preferences into Australia will decline by 7.5%,” he explained.
Halabe said their customers saw Fiji as an expensive manufacturing country and with any increased cost of doing business, such as the Employment Relations Bill, was of no help.
“It doesn't help our ability to increase export sales, increase employment or investments,” says Halabe.
Halabe said with the introduction of the ER Bill, his company stood to lose $160,000 each year for the maternity clause, doubling of sick leave pay, redundancy and bereavement clause.
“On a payroll of over $2.5m this is not an insignificant amount of 6.4%. In addition employers have had to pay increases in wages and salaries which would be in the same order over the last 12 months. So increases of near 13% are simply unaffordable to our international customers,” he said.
Halabe has called on the government of the day to offer business owners some relief by means of a 150% tax deduction.
Another option it has suggested in which the interim government can assist is for to offer to pay 50% of maternity pay or allow the employee to fund 50% from their FNPF funds.
Halabe says the ER Bill has other costs that the media has not picked up on including the doubling of the allowable sick days, redundancy pay and the softening of the definition of bereavement pay.
“All these additional costs only hinder Fiji's ability to compete in the international market as there was no productivity offsets,” he said.
May 26, 2008
Easy to do business in Fiji
Easy to do business in Fiji, says report
Last updated 5/26/2008
Fiji has been ranked the highest in the Pacific as a country where they can easily do business according to a recent World Bank report. The report titled “Doing business in small islands developing States 2008” covers figures collected between April 2006 and June 2007.
The report highlighted areas compatible for developing countries to do business.
Fiji is ranked fourth against 32 other developing countries and ranked just below Singapore, Maurictius, St Lucia and Mauritius and ranked 36 in the world economies rank.
The report found that small island developing states like Fiji performed well in three Doing Business areas, dealing with licenses, employing workers and paying taxes, relatively well on the ease of starting a business, protecting investors, and trading across borders.
According to the report, priorities for reform in most of these countries are closing a business, getting credit, registering property, and enforcing contracts. Doing Business analyses government regulations that enhance business activity and those that constrain it in 178 countries, including 32 SIDS economies: Antigua and Barbuda, Belize, Cape Verde, Comoros, Dominica, Dominican Republic, Fiji, Grenada, Guinea-Bissau, Guyana, Haiti, Jamaica, Kiribati, Maldives, Marshall Islands, Mauritius, Micronesia, Palau, Papua New Guinea, Samoa, São Tomé and Principe, Singapore, St.Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Seychelles, Solomon Islands, Suriname, Timor-Leste, Tonga, Trinidad and Tobago, and Vanuatu.
They recommended for country’s to learn from each other and that if they were to adopt the practices of each top performer in the region on the 10 areas measured by Doing Business, they would rank second globally on the overall ease of doing business.
Last updated 5/26/2008
Fiji has been ranked the highest in the Pacific as a country where they can easily do business according to a recent World Bank report. The report titled “Doing business in small islands developing States 2008” covers figures collected between April 2006 and June 2007.
The report highlighted areas compatible for developing countries to do business.
Fiji is ranked fourth against 32 other developing countries and ranked just below Singapore, Maurictius, St Lucia and Mauritius and ranked 36 in the world economies rank.
The report found that small island developing states like Fiji performed well in three Doing Business areas, dealing with licenses, employing workers and paying taxes, relatively well on the ease of starting a business, protecting investors, and trading across borders.
According to the report, priorities for reform in most of these countries are closing a business, getting credit, registering property, and enforcing contracts. Doing Business analyses government regulations that enhance business activity and those that constrain it in 178 countries, including 32 SIDS economies: Antigua and Barbuda, Belize, Cape Verde, Comoros, Dominica, Dominican Republic, Fiji, Grenada, Guinea-Bissau, Guyana, Haiti, Jamaica, Kiribati, Maldives, Marshall Islands, Mauritius, Micronesia, Palau, Papua New Guinea, Samoa, São Tomé and Principe, Singapore, St.Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Seychelles, Solomon Islands, Suriname, Timor-Leste, Tonga, Trinidad and Tobago, and Vanuatu.
They recommended for country’s to learn from each other and that if they were to adopt the practices of each top performer in the region on the 10 areas measured by Doing Business, they would rank second globally on the overall ease of doing business.
May 25, 2008
Cost Of Business High: Halabe
Cost Of Business High: Halabe
www.fijivillage.com - 25/05/2008
A leading Garment Factory owner and Managing Director of Mark One Apparel Mark Halabe said with the implementation of the Employment Relations Bill and its Maternity clause, the cost of business in Fiji has gone up.
Halabe said his personal view is that the maternity clause is unfair to the employer both financially and morally.
He told Fijivillage that to pay an employee full maternity pay for three babies and fifty percent for subsequent pregnancy will affect a company a lot.
Halabe said this will also affect our economy.
Meanwhile, under the ER Promulgation, a woman is to be paid her full pay during maternity leave for her first three pregnancies, while she would be entitled to half pay after the third child.
www.fijivillage.com - 25/05/2008
A leading Garment Factory owner and Managing Director of Mark One Apparel Mark Halabe said with the implementation of the Employment Relations Bill and its Maternity clause, the cost of business in Fiji has gone up.
Halabe said his personal view is that the maternity clause is unfair to the employer both financially and morally.
He told Fijivillage that to pay an employee full maternity pay for three babies and fifty percent for subsequent pregnancy will affect a company a lot.
Halabe said this will also affect our economy.
Meanwhile, under the ER Promulgation, a woman is to be paid her full pay during maternity leave for her first three pregnancies, while she would be entitled to half pay after the third child.
Leave Airlines Alone Politicians
Leave us alone: Airlines
www.sun.com.fj - Last updated 5/25/2008
Regional aviation heads are concerned about government interference in airline operations.
The Association of South Pacific Airlines secretary George Faktaufon said governments should just appoint the right people to management positions and let them run the airline.
Mr Faktaufon said government interference with Air Pacific in the 1960s had been near fatal as it proved to be a major failure.
Earlier in the week a cabinet task force was appointed to look into the operations and services of Air Pacific.
The four-member team comprises Civil Aviation Minister Ratu Epeli Nailatikau, Public Enterprises Minister Aiyaz Sayed-Khaiyyum, Finance Minister Mahendra Chaudhry and Tourism Minister Tom Ricketts.
It has been stated that the cabinet task force will look into staff grievances relating to the airline’s recruitment, training, promotions and delays to flight operations caused by mechanical problems to its ageing fleet of aircraft.
Over the past months Air Pacific aircraft have experienced mechanical problems and passengers faced difficulties as their flights were delayed.
Air Pacific chief executive officer John Campbell could not be reached for a comment on this issue.
www.sun.com.fj - Last updated 5/25/2008
Regional aviation heads are concerned about government interference in airline operations.
The Association of South Pacific Airlines secretary George Faktaufon said governments should just appoint the right people to management positions and let them run the airline.
Mr Faktaufon said government interference with Air Pacific in the 1960s had been near fatal as it proved to be a major failure.
Earlier in the week a cabinet task force was appointed to look into the operations and services of Air Pacific.
The four-member team comprises Civil Aviation Minister Ratu Epeli Nailatikau, Public Enterprises Minister Aiyaz Sayed-Khaiyyum, Finance Minister Mahendra Chaudhry and Tourism Minister Tom Ricketts.
It has been stated that the cabinet task force will look into staff grievances relating to the airline’s recruitment, training, promotions and delays to flight operations caused by mechanical problems to its ageing fleet of aircraft.
Over the past months Air Pacific aircraft have experienced mechanical problems and passengers faced difficulties as their flights were delayed.
Air Pacific chief executive officer John Campbell could not be reached for a comment on this issue.
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